By Ogochukwu Isioma
The Central Bank of Nigeria says Nigeria’s banking sector recapitalisation programme is progressing steadily, with 30 banks already meeting the new minimum capital requirements introduced by the regulator.
The apex bank disclosed this in a statement issued by its Acting Director of Corporate Communications, Hakama Sidi Ali, on the ongoing exercise aimed at strengthening the resilience and long term capacity of the country’s financial system.
According to the bank, the recapitalisation programme, introduced in 2024, was designed to reinforce the stability of the banking industry and position it to better support economic growth.
“The Central Bank of Nigeria introduced a recapitalisation programme for the banking sector in 2024 to strengthen the resilience, stability, and long term capacity of the financial system to support Nigeria’s economic development,” the statement said.
It noted that since the policy was rolled out, banks across the industry have taken steps to improve their capital base in line with the revised regulatory requirements.
Providing an update on the progress made so far, the apex bank said a significant number of financial institutions have already complied.
“As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty banks have met the new minimum capital requirements applicable to their respective licence authorisations,” the statement noted.
The bank further disclosed that additional institutions have raised fresh capital through different financing channels to meet the regulatory benchmark.
“In total, thirty three banks have raised additional capital through rights issues, initial public offerings and private placements as part of the programme.”
The CBN explained that the capital positions of other banks are still undergoing routine verification before final confirmation of their compliance status within the stipulated timeline.
“The capital positions of the remaining banks are currently undergoing the Central Bank’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline.”
Reassuring the public and investors, the apex bank maintained that the Nigerian banking sector remains stable and well positioned to support economic activities.
“The Nigerian banking system remains stable and sound. The recapitalisation programme remains firmly on track and will further strengthen the capacity of the banking sector to support households, businesses, and sustainable economic growth.”
The regulator added that it would continue to maintain close supervisory engagement with financial institutions to ensure full compliance with prudential and capital requirements.
